The US derivatives watchdog has approved five European derivatives exchanges to provide direct access for US traders.
The exchanges include Eurex, ICE Futures Europe, CME Europe, London Stock Exchange (LSE) and the London Metal Exchange (LME).
Approval from the Commodity Futures Trading Commission (CFTC) will enable the exchanges to provide direct access to its electronic order book for futures and options trading.
“This is a very important milestone for London Stock Exchange Derivatives Market, allowing us to significantly increase our appeal and reach in the US,” said Nikhil Rathi, CEO of the LSE. “This registration will provide US based clients with more choice, allowing them to access directly a range of derivatives listed on London Stock Exchange Derivatives Market.”
Cees Vermaas, CEO of CME Europe added: “With FBOT (foreign board of trade) status, CME Europe is closing the gap between the continents by being able to offer experienced US participants access to the European futures and options markets via CME’s London-based exchange.”